A highly-regarded corporate lawyer who specialises in private equity transactions and mergers and acquisitions, he trained with legacy firm Burness before spending five years in London with City firms Hogan Lovells and Travers Smith. He returned to the firm as a partner in 2008.

Assuming the role from today, Mr Ellis will continue to build on the growth strategy led by Mr Lawson – who has been re-elected for a third term as chair – and outgoing managing partner Tamar Tammes, which has seen both fee income and profit grow by more than 50 per cent since 2018.

Mr Lawson, said: “Mark has long been a leader within the firm, latterly as head of the corporate finance team which in recent years has cemented its preeminent position in the market. Like Tamar and I, he trained here and has a deep understanding of our independent culture and commitment to our people and clients.

“The revolutionary potential of generative AI, market consolidation, greater competition from non-traditional players, and wider economic volatility mean it is a time of considerable change for the legal industry. We need to recognise the challenges but also be confident about the opportunities and inherent advantages we have as an independent, Scotland-based firm.

“Mark’s qualities and track record mean he is ideally suited to take on the role of managing partner and I look forward to working with him to deliver our ambitious growth strategy. Our management remits will operate alongside our client work, not least because it’s our focus on clients which will continue to shape our strategy going forward.

“The firm is enormously grateful to Tamar for her exceptional leadership, energy and commitment over the last six years. During her time as managing partner, the firm has not only delivered strong financial growth but also made huge strides as we seek to become an evermore inclusive employer and responsible business. We look forward to continuing to benefit from Tamar’s expertise and experience as she takes on the position of head of international growth.”

Mr Ellis added: “It’s an honour to be trusted by colleagues with the role of managing partner. I have spent the overwhelming majority of my career at Burness Paull and I care passionately about our firm, our people, and the quality of service we deliver for our clients.

“Independent law firms across the world continue to lead the market and my ambition is to ensure Burness Paull retains and enhances this standing. We have remarkable talent right across our firm and together we will continue to strengthen our offering and grow our business – building on our success to date.”

Ms Tammes commented: “When I took over as managing partner in 2018, I said that a key part of our growth strategy would be to empower a new generation of leaders within the firm. Mark is a shining example of this, and I am proud to be passing on the mantle of managing partner to someone of his character and calibre.”

Burness Paull has also made two further senior appointments. Lindsay Wallace, previously general counsel partner with responsibility for the firm’s governance and regulatory obligations, becomes head of sustainability. In this newly created role, she will lead the delivery of the firm’s ESG strategy.

She will be succeeded as general counsel partner by Jill Moore. Moore has spent her entire career with Burness Paull, initially as a banking and finance lawyer before moving into the general counsel team where she spent six years as senior counsel for risk and data protection officer.

Mr Ellis said: “To have two partners dedicated to leading our general counsel and sustainability functions demonstrates the importance we place on these areas of the firm.

“Our clients naturally expect the highest governance and regulatory standards, and we invest heavily in this area with a team made up of in-house lawyers focussed on risk and regulation and specialists in anti-money laundering, conflict management and information security, overseen by the general counsel partner.

“Jill has long been identified as the natural successor to Lindsay as general counsel partner and they have been working together for the last year to ensure a smooth transition.

“Lindsay’s appointment to the new role of head of sustainability aligns with both her passion and the firm’s responsible business ambitions. Every organisation has an obligation to make sure its impact on the planet and society is as positive as possible. We are committed to implementing the changes and improvements that are required to constantly improve our ESG impacts, which are crucial to ensuring the firm’s near and long-term success.”